Federal Government targets N3.6 trillion investments in oil, gas infrastructure

The Minister of State for Pretroleum Resources Emmanuel Ibe Kachikwu PHOTO: TWITTER/NNPC Federal Government has renewed its commitment to attract over $10 billion (N3.6 trillion) to the Niger Delta between 2017 and 2019 through investments in infrastructure. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who made the disclosure at the graduation ceremony […]

Why Federal Government shifted focus to modular refineries, by Ibe Kachikwu

Represented by the Permanent Secretary, Ministry of Petroleum Resources, Dr. Folasade Yemi-Esan, hesaid:  “One of the major policy thrust of the present administration is the development and engagement of local content. • Senate panel seeks expansion of local content act beyond oil, gas • NGPTC attributes N15.81b profit to transformation  The Federal Government’s focus on modular […]

Nigeria earns N362.43bn from crude oil export in July

Nigeria’s crude oil earning increased from the N253.02billion in June, to N362.43billion in July, according to the National Bureau of Statistics (NBS).     • Stakeholders identify setbacks in new PIGB Nigeria’s crude oil earning increased from the N253.02billion in June, to N362.43billion in July, according to the National Bureau of Statistics (NBS). This comes […]

SEC, Oando get 14-day ultimatum to resolve alleged N799b shareholders’ liabilities

The House of Representatives Committee on Capital Market and other Institutions has issued the Securities and Exchange Commission (SEC) and Oando Plc a two-week ultimatum to resolve all lingering issues bordering on the N799 billion stakeholders’ liabilities. During a meeting yesterday in Abuja with officials of the two organisations and some aggrieved shareholders of the […]

‘Nigeria lost 773,100bpd of crude oil in May’

NNPC disclosed that production was on total shut down on May 15th due to crude oil leakage, leading to production shut-in of about 190,000bopd. PHOTO: energybizdigest The Nigeria oil industry lost 773,100 barrels per day to production shut-in due to product theft and pipeline vandalism in the month of May, 2017. At the international Brent […]

‘Hurdles to Nigeria’s $30bn non-oil target’

The Chief Executive Officer, Nigerian Export Promotion Council (NEPC), Segun Awolowo, said the zero oil export policy of the council was already shifting the attention of Nigerians from oil. As the economic recession wanes, notwithstanding high food prices, industry stakeholders have warned of another crisis that may be triggered by unstable commodity prices, low export […]

Uncertainty over N4.314tr revenue from marginal fields

An oil field in the Niger Delta Photo: Getty Image • Govt loses N1.29b daily to unproductive oil wells The nation’s plan to earn additional $14.100 billion (N4.314 trillion) from 300 million barrels of crude oil is uncertain as licensed marginal fields are unable to engage in meaningful exploration and production activities 13 years after. […]